https://www.taxtmi.com/caselaws?id=758039 ITAT Delhi ruled in favor of the assessee regarding adhoc disallowance of expenses and cash deposits during demonetization. The court found that complete books of accounts, detailed expense records, and audited financials were properly produced. Lower authorities made general statements without pointing specific defects or invoking section 145(3) provisions. Regarding cash deposits, the entire cash book was produced establishing that deposits were properly explained by available cash balance, leaving no basis for additions. en-us Fri, 30 Aug 2024 00:00:00 +0530 Fri, 06 Sep 2024 08:21:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758039 ITAT Delhi ruled in favor of the assessee regarding adhoc disallowance of expenses and cash deposits during demonetization. The court found that complete books of accounts, detailed expense records, and audited financials were properly produced. Lower authorities made general statements without pointing specific defects or invoking section 145(3) provisions. Regarding cash deposits, the entire cash book was produced establishing that deposits were properly explained by available cash balance, leaving no basis for additions. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758039